Oracle Blog

Friday Apr 11, 2014

If you follow HR technology even a little, you have heard something about big data. In terms of popularity, it’s right up there with other key trends like social, mobile, and the cloud. And while definitions for many of these are not set in stone, big data is by far the most undefined and misunderstood trend of the bunch.

Thursday Jun 13, 2013

This is the second in a series of posts on the value of leveraging social data across your enterprise, from Oracle Social VP Product Development Don Springer

In
this post, I will cover more advanced “next” steps in how to leverage
social data within your enterprise’s Big Data Analytics, Business
Intelligence and Customer Experience Management deployed applications
and systems. This is a follow-up to a post I wrote in April around the first step in implementing a Social CRM approach and the value for your enterprise specific social data.

Wednesday Apr 24, 2013

This is the first in a series of guest posts from Don Springer, VP Product Development for Oracle Social and Pat Ma, Principal Product Marketing Director for CX and CRM on the value of leveraging social data across your enterprise.

Lately, we have been meeting with marketing, sales, services and IT executives at very large Financial Services, Consumer Products, Retail and Technology companies. They have all made significant progress in deploying social customer relationship management (Social CRM) capabilities, but are looking for more automated and powerful ways to socially enable their external customer facing functions. In essence, they want to do more with their Social Data. With enterprise data growth expected to continue at 40% through 2020, driven by consumer generated content, getting value from this data is becoming increasingly and strategically important.

In this post, we’ll cover the basics of first implementing a Social CRM approach, and the value your enterprise specific social data. In a future blog post, we will cover more advanced “next” steps in how to leverage social data within your enterprise’s Big Data Analytics, Business Intelligence and Customer Experience Management deployed applications and systems.

Below is a diagram that highlights a general process for leveraging Social Data as part of an overall Social CRM approach. Think of this as a process that tracks your social efforts across your customers’ life-cycles, starting with listening and point-to-point engagement to more broadcast communications efforts in a repeatable and flexible fashion.

Social CRM Process

1. Listen. The enterprise wants to listen to what people (customers, prospects, and influencers) are saying about their brand on social media channels.

Your customers are talking about your brand on social media channels. They are posting, tweeting, commenting, sharing, complaining and liking your brand.

Through Social Listening, the enterprise should figure out what their constituents are saying en mass, analyze sentiment, hear what they like and don’t like about your product, and know if they intend to purchase your product or not.

Your social listening approach needs to be accurate and filter out the irrelevant “noise”, to get to pure customer signal for analytics and engagement.

2. Engagement (1-on-1) The enterprise wants to engage with relevant social signals to interact with their customers, and determine how those 1-on-1 engagements perform.

This can be done by asking your customers various questions, responding to their posts and comments, and creating engagement applications like contests and polls.

Your social engagement should be used to listen and respond to social posts. Social posts should be automatically categorized by your Listen engine and flow from multiple social networks into one “inbox” designed to make managing your community easy and efficient, within your appropriate business function (sales, marketing and support).

3. Content and Apps (within your Enterprise’s Social Assets) The enterprise should leverage the lessons learned from your 1:1 engagements to scale what works within relevant content and apps you create, whether it’s user-generated contests, polls, videos, or other interactive content.

4. Publish (message through your social channels’ communities) The enterprise should continue to build on its learning on all your interactions with your fans and followers to publish and amplify relevant content to multiple social media channels.

Create great looking landing pages and publish to multiple social networks or embed on any website.

This should be done specifically within your various channels focused on marketing, sales, service, and commerce.

5. Managed Workflows The enterprise should develop and deploy specific workflows so your assigned business functions (Sales, Marketing, Service and Commerce) are communicating the right message to the right customer at the right place and the right time.

Social media teams are growing and becoming more global. Why take the risk of someone in your organization publishing off-brand information?

By using your listening engine to auto-tag customer signals, managed by function appropriate workflows, you can better control your points of communication (1:1, through content, apps and publishing) to improve ROI.

6. Analytics. The enterprise should create a culture that always analyzes your results and metrics to quickly capture lessons learned to establish a continuous improvement process.

This will enable you to show ROI on all your social media investments, pre, during & post-campaign across your owned & earned media to improve social performance.

This helps you optimize your efforts over time to get more lift and value from your resource and communications spend.

Makes Sense?

Once your enterprise has this Social CRM approach in place and functioning, you can take the broader “next” step to amplify your social value through integration into your other core applications, which we’ll cover in a future post.

To whet your appetite, you can socially enable your enterprise by creating a 360o view of your enterprise customers (both content and profile) to support:

Monday Mar 18, 2013

According to Forrester, 72% of customers prefer using a company's website to answer their questions. However, only 52.4% find the information they need online.Customers want to solve their issues quickly and easily on the web. When they can, they will buy more from you, with 88% saying they will increase their purchases.

Companies want to empower consumers to serve themselves online because it not only increases customer loyalty, but it also reduces support costs—by more than 50x since the average support call costs $5.50 versus $.10 for a web interaction.

However, most companies aren’t doing enough to guide customers to the answers they need online. That’s a costly mistake because 89% of customers will stop doing business with you after one bad experience. The organizations that are investing in web-self service are doing much better, achieving customer self-service success rates of 65.6%, which translate into an average $22 million saved on unnecessary channel escalations.

You can achieve similar results by investing in three web self-service areas:

Invest in master data management to develop a 360-degree view of your customer. With this unified profile, you can deliver personalized, relevant content on your site to guide customers to the best, fastest resolution based on their needs and value.

Big Fish Games, for example, uses its 360-degree customer view to personalize online service based on information from the customer’s profile and web session. Using this approach, Big Fish Games has achieved a web self-service rate of 96.4% and savings of $870,000 from call and email deflection.

2. Empower your customer with online self-service tools

Empower your customer with self-service tools for quickly and easily resolving issues. Knowledge tools facilitate the customer’s journey with natural language and federated search to find the best answer across multiple sources. Social collaboration tools enrich the customer’s experience by enabling information sharing on Facebook support sites or peer-to-peer communities. Chat, cobrowse, and click-to-call reassure customers that help is just a click away.

Drugstore.com offers customer support on Facebook, and monitors and responds to customer social media interactions just like any other support request. With this strategy, drugstore.com has decreased email volume by 30% and saved over $350,000 per year on call deflection.